U.S. Dollar Index's Upward Momentum Starting to Slow, Daily Chart Shows
Dow Jones10-14 13:26
0526 GMT - The U.S. dollar index's upward momentum is starting to slow, suggesting that potential for further upside may be limited, says Quek Ser Leang of UOB Global Economics & Markets Research in a note. Recent price movements on the daily chart suggest that the index's rally that began last month could be shifting to a period of consolidation or modest weakness, the senior technical strategist says. Any weakness of the index may test the 21-day exponential moving average, which is now at 101.50, the strategist says. The U.S. dollar index is 0.1% lower at 102.097, LSEG data show.
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